On August 2, 2016, the Province of British Columbia enacted amendments to the Property Transfer Tax Act (British Columbia) (the “Act”) which introduced a new 15% property transfer tax (colloquially referred to as the “foreign buyer tax”). This tax currently applies when a foreign national or foreign corporation purchases residential property situated in the GVRD. The amendments also include a new anti-avoidance rule applicable to the foreign buyer tax only. This rule has yet to be considered by a Court, but on its face it may affect the ability of a foreign national or foreign corporation to safely avail itself of a routine feature in many purchase and sale transactions in British Columbia: the purchase of a title nominee’s shares. –> Read More

With the continued exponential growth in mixed use developments which often take the form of separate components subject to condo declarations and in many cases multiple condo declarations as between the residential and commercial components, buyers and mortgage lenders will consider additional factors during their due diligence and as part of future management of the various components. –> Read More

On December 10, 2016, the Forfeited Corporate Property Act, 2015 (the “FCPA”) came into force in Ontario. This statute addresses what happens to property that is not distributed by an Ontario corporation prior to its dissolution. It also amends the Business Corporations Act (Ontario) (the “OBCA”) and the Corporations Act (Ontario) (the “OCA”) to include a requirement for corporations to maintain a register of ownership interests in land in Ontario. Corresponding amendments were also made to the Not-for-Profit Corporations Act (Ontario) (the “ONCA”), which has not yet come into force. –> Read More

Licenses and easements are not the same thing! Depending on the rights you wish to convey, there is an important distinction between the two, which was recently highlighted in an Ontario Court of Appeal case.[1] The Court was faced with a neighbouring property owners’ fight concerning a waterline. –> Read More

Ontario has introduced the Fair Housing Plan which includes some measures that will have an immediate effect such as a rent control expansion, a new standardized lease and a new 15 percent Non-Resident Speculation Tax should the legislation be passed. –> Read More

In conjunction with the enactment on December 10, 2016 of the Forfeited Corporate Property Act on December 10, 2016, the Ontario government has amended the Business Corporations Act to require all corporations to maintain at its registered office a register of its ownership interests in land –> Read More

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McCarthy Tétrault's Real Property & Planning Group is one of the largest real estate practices in Canada. With offices in all major Canadian business centres, we advise on opportunities wherever they arise, and coordinate national and international transactions efficiently. We assist public and private companies, REITs, private equity firms, governments, financial institutions and sovereign wealth funds. As part of a full-service firm, we have ready access to the leading expertise of our other related areas of practice, such as tax, environmental, litigation, Aboriginal, labour and employment, financial services and securities.